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PwC Pulse 2010What CEOs are sayingIntroductionCEO Confidence Business Performance Foreign DirectInvestmentCEO Priorities People Management Sustainability/Climate ChangeActionsfor GovernmentSurveyMethodologyClimate change not onthe radar screenOnly a third of CEOs(35%) agreed that climatechange is a top priorityfor their organisationcompared to 62% lastyear. Furthermore,over half (55%) ofrespondents said thattheir organisations are notpreparing for the impactof climate change in thecoming 12 months.Linked to getting readyfor climate change, asimilar proportion (54%)said that they did notconsider sustainability/climate change planningas important in thebusiness at this time.However, cost does notseem to be a barrier asonly a minority (22%)agreed that compliancewith climate change willbe a significant expense.Perhaps, businesses arefinding it difficult to linkthe benefits of climatechange/sustainabilityinitiatives to their bottomline. Potential efficienciesif properly addressedinclude waste reduction,improved energy andresource efficiency andproducing productsin a more sustainablemanner. On the otherhand, perhaps, at anational level there is aneed for greater clarityon Government strategyin this area to stimulateactivity at corporate level.Nearly half (45%) ofCEOs agreed that climatechange initiatives willprovide reputationaladvantages. As theworld moves towardsa low carbon economy,corporate reputationin this area and how itimpacts shareholdervalue will increasinglycome under the spotlight.“Only a third of CEOs viewclimate change to be a toppriority at the moment.”Chart 12:Levels of agreement with climate change initiatives (% of respondents)Agree Disagree Don’t knowClimate change is a top business priority 35% 57% 8%My company will need to reduce itsemissions significantly19% 66% 15%Compliance with climate change willbe a significant expense22% 58% 20%Climate change will lead to significantnew products and services26% 55% 19%Response to climate change willprovide reputational advantages45% 39% 16%PricewaterhouseCoopers Pulse 2010 12
PwC Pulse 2010What CEOs are sayingIntroductionCEO Confidence Business Performance Foreign DirectInvestmentCEO Priorities People Management Sustainability/Climate ChangeActionsfor GovernmentSurveyMethodologyBenefits of climatechange not clearlyunderstoodIn terms of benefits, lessthan half (45%) expectthat their companies’response to climatechange initiatives willprovide a reputationaladvantage while only aquarter (26%) were of theview that climate changewill lead to significantnew products andservices.Despite the apparentdisinterest at a strategiclevel in climate change,some work is ongoing.For example, a fifth (21%)of Irish CEOs said thatthey had sustainabilityobjectives underdevelopment. A similarproportion (18%) saidthat they had strategicobjectives developed.The three key compellingreasons to implementsustainability initiativeswere regulation (66%);brand enhancement(64%) and wastereduction (62%).Majority do not reporton climate changeNearly three-quarters(72%) of Irish businessleaders said thatthey do not report onsustainability/climatechange to externalstakeholders.In terms of carbonfootprint measurement,only a fifth (20%) saidthey have measured theircarbon footprint; nearlyhalf (43%) said they haveintroduced measuresto reduce their carbonfootprint and just overone tenth (12%) said theyhave set specific targetfootprint (ie by reducingenergy and waterconsumption, reducingwaste and increasingrecycling etc) levels for2010/11. The surveyindicates that very fewhave purchased carboncredits.“Businesses are findingit difficult to link thebenefits of climate change/sustainability initiatives totheir bottom line.”PricewaterhouseCoopers Pulse 2010 13
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